What is the currency in Vietnam

Vietnam - is not so exotic country for the modern Russians, as it was a few years ago.Today, many have already been there and well represent what currency is in use in Vietnam.

national currency of Vietnam is called the "dong".On the international currency market, it is usually abbreviated VND.

History Currency

Vietnamese dong has been introduced in the country at the same time it gained independence from France - an event occurred in 1947.Until that date, accepted means of payment in Vietnam was the Indochinese piastres, which had a circulation not only in this country but also in other countries in the Asian region.

initially to ensure comparability of the cost of the new and old currencies Vietnam Dong at the exchange rate has been equal to the old monetary unit - the Indochinese piasters.Subsequently, however, the unstable economic situation in the country and a number of other problems have led to a strong devaluation of the Vietnamese currency.

Vietnamese dong today

As a result, today do

ng is one of the cheapest currency in the world.His orientation course the euro is about 29,000 dong to the dollar - about 21 thousand dong per unit.

From a formal point of view, in the country there is a division of the national currency into smaller payments: since one dong consists of 10 and 100 hao su.However, due to the fact that prices in the country in nominal terms is very high, such means of payment to date do not have circulation in the economy.

Generally, bills are in circulation in the country, for the unprepared people have unusually high amperage.So, the smallest currency unit, which can be found in the country - this bill denominations of 100 dong.The maximum nominal value of banknotes in circulation at the moment is 500 thousand dong.Banknotes used in Vietnam, are not made of paper, and a thin plastic film, and are therefore very durable.Some currency denominations, for example, 5, 2 and 1 000 VND and VND 500 and 200 also have analogs in the shape of a coin.However, they are much less common in the country than the respective merits of the bill.

All banknotes in circulation in Vietnam today are equipped with a portrait of the greatest politician of the country - Ho Chi Minh, in honor of which today is called the capital of the state.On the other side of the banknote depicts the various attractions that are well known to tourists, who visited Vietnam.For example, among them you can find images Temple of Literature, located in Hanoi, Halong Bay, Hue ancient capital of the state and other important places.